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4 October 2013 | Will Green
Accenture has entered into an agreement to buy Procurian in a $375 million (£233 million) cash deal.
The outsourcing firm, ranked among the largest public companies in the world, said acquiring Procurian’s analytics capabilities and technology would boost its procurement business process outsourcing (BPO) across a range of industries including consumer goods, high tech and financial services.
Mike Salvino, group chief executive for BPO at Accenture, said: "This acquisition will further strengthen Accenture's industry-leading capability in procurement BPO.
"The addition of Procurian's deep strategic sourcing category expertise, advanced analytics capabilities and delivery resources will complement and scale our already-significant sourcing and procurement business services. As a result Accenture will be even better positioned to provide clients around the world with fourth and fifth-generation BPO procurement services to drive real and sustainable business outcomes."
Accenture employs around 275,000 people globally and its clients make up 89 of the Fortune Global 100. In the 12 months to 31 August it had revenues of $28.6 billion (£17.8 billion).
Procurian, whose clients include Elizabeth Arden, Whirlpool and Kimberly-Clark, employs 780 people and is headquartered in Pennsylvania in the US. All staff are expected to join Accenture.
CEO Carl Guarino said: "This agreement with Accenture will benefit clients of both of our companies, providing global capabilities and scale along with a significant depth and breadth of category and industry expertise.
"We share a passion for helping clients achieve business outcomes through higher-value sourcing and procurement solutions."